USD/ZAR Down 151 Pips Over Past 4 Hours, Moves Up For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart

USD/ZAR 4 Hour Price Update

Updated May 12, 2020 12:53 AM GMT (08:53 PM EST)

USD/ZAR entered the current 4 hour candle at 18.417, down 151 pips (0.08%) from the last 4 hour candle. Out of the 37 instruments in the Forex asset class, USD/ZAR ended up ranking 27th for the four-hour candle in terms of price change.

USD/ZAR End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/ZAR is up 132 pips (0.07%) since the day prior (opening today near 18.41369), marking the 3rd day in a row an upward move has occurred. Out of the 40 instruments in the Forex asset class, USD/ZAR ended up ranking 12th for the day in terms of price change. Below is a price chart of USD/ZAR.

USD/ZAR Technical Analysis

Coming into today USD/ZAR is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days USD/ZAR’s price has gone up 15 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDZAR; just 2 sell signals and 2 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

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